Price is trading around daily support level
An inverse head and shoulders pattern at the daily support level indicates the lack of selling pressure
RSI divergence confirms the lack of bearish momentum
At the moment all the trading confluence align at the same support level which comes from the daily chart. If we price...
Price is at 4-Hour Support Level
Price Broke Below the Local Structure Level But The Downtrend failed to Continue and Right Now Price Immediately and Strongly Pushing Back to Local Structure Level and If Price Break Above the Local Structure Level, It is a clear Indication That Telling the Ongoing Downtrend In Invalidated.
Price is at 4-Hours Structure Level
Head and Shoulders Pattern indicate lack of buying pressure
Minor Trendline is broken
We will consider going short if price break below the local structure level (Blue zone) and looking to enter the trade on a retest of the local structure level targeting 1.06528...
Price is at a Support Level Which Comes from 4 Hour Chart.
An Inverted Head and Shoulders Pattern indicate the lack of selling pressure
Bullish Engulfing and Bullish Pin Bar indicate the buying pressure that builds on CADJPY
We will look for a break above the local structure level marked in the...
Price is at Daily Resistance Level
Head and Shoulder Pattern at the Daily Resistance indicate lack of Buying Pressure
A Rising Channel After a Strong Bullish Momentum Indicate that on-going Momentum is Fading
Consider Going Short if Price Break Below the Local Structure Level Marked In the...
FX:EURUSD Trend Reversal Trade
RSI Overbought on 4 Hour (This is very significant - Check out Trade revenue pro blog for why)
RSI shows divergence on the 1-Hour chart
Price is at the previous HL if this level broke the whole trend is going to invalidate.
Price reject 4-Hour Resistance Level
Price Starts to Creat Lower Highs
Price Broke Minor Trend Line
Trade Idea - Consider going short if price broke below the local structure level and retest it successfully.
Trade Analysis from Trade Revenue Pro
Daily Support – Right now EURJPY is trading near the daily support level at 116.75 which was tested in multiple times in previously.
Inverse Head and Shoulders Pattern – As this minor trend met the daily support it shows some weaknesses to break below this level. As a result, price starts forming an inverse head and shoulder pattern at the support.
Resistance Level - Price Reject the Resistance Level
Head and Shoulder Pattern - Head and Shoulders Pattern Indicate the Buyers are Losing Control Over the Market.
RSI Indicator - RSI Over-Bought and RSI Divergence indicate the Fading Momentum of the Ongoing Uptrend.
Trade Idea - Based on the Clues Above, We can expect a sell-off if price broke below the...
Confluences for FX:EURGBP
1. Price is at Weekly Resistance Level
2. Series of Lower Highs Indicate Selling Pressure
3. Descending Triangle Pattern Indicate Selling Pressure That Builds on This Pair
4. RSI Massively Over-Bought
Trade Idea - Consider Going Short if Price Retest Local Structure Successfully.
Trade Analysis From - Trade Revenue Pro
Right now FX:USDCHF uptrend shows some weaknesses as price struggle to break above the daily resistance level. Furthermore, the descending triangle pattern indicates the selling pressure that builds on this pair. with all of these technical factors, If the price broke below the local structure level, then we can anticipate a bearish trend rotation.
Price just broke above the local structure level and with that previous downtrend is now invalidated. Also, the head and shoulders pattern at weekly support indicate a strong trend reversal signal. When considering all these technical factors we can expect a bullish price movement.
If the price starts moving higher, we will closely manage our risk and always...
Right Now FX:EURCAD is in up trending scenario. However, in the last week, the market closed with a strong selling pressure (Blue zone marked in the chart).
If you look left you can see that the market is at a major resistance level that comes from the weekly timeframe also at the last week price did break above this resistance level but the price wasn’t able to...